Richard A. Grasso, born in Jackson Heights, Queens, New York City, usually known by the nickname 'Dick', was chairman and chief executive of the New York Stock Exchange from 1995 to 2003, the culmination of a career that began in 1968 when Grasso was hired by the Exchange as a floor clerk.
Grasso was raised by his mother and two aunts, since his father left the family when Richard was an infant.
On 27 August 2003, it was revealed that Grasso had been given a deferred compensation pay package worth almost $140 million. This caused immediate controversy, as the hand-picked compensation committee consisted mainly of representatives from NYSE-listed companies over which Grasso had regulatory authority as head of the Exchange.
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